At my seminar at AGS yesterday, there was a lot of buzz about De Beers’ Forevermark, perhaps because there are a few people from the brand at the Conclave, and they have pitched their product to a lot of jewelers here. (There will also be a Forevermark suite at Vegas.) Thanks to a commenter, I have to clarity yesterday’s post—Ben Bridge (an AGS jeweler) is testing the Forevermark in its stores currently, but from what I understand that’s just a pilot. R.F. Moeller is the first non-pilot independent to carry it.
In any case, if you go to the Ben Bridge site and search for Forevermark stones, you can get a taste of how the Forevermark will be marketed to U.S. consumers:
Forevermark is a diamond brand from the DeBeers group of
companies with a promise of quality and integrity. ?
?Less than 1% of diamonds qualify to be a Forevermark
?Each Forevermark diamond has met high standards of
business, social and environmental integrity at every step of its journey.
?Each diamond has a unique inscription on the table
of the diamond visible only under a Forevermark viewer.
To compliment the Forevermark promise that each of these diamonds is special; a Forevermark Diamond Grading Report is included with your purchase.
What’s interesting about this is that, as one person pointed out to me yesterday, there isn’t that much difference between a Forevermark diamond and a lot of other stones in a jeweler’s showcase, aside from the table inscription (which is similar to the inscription De Beers used for its Millennium stones). Most jewelers sell stones with lab reports, and will happily declare their diamonds meet high standards, and are conflict free, even if few explicity tout that promise in their marketing. Yet Forevermark stones command what has been described to me as a “small” premium. So what’s the difference?
At some point, the Forevermark folks will likely introduce “big ideas” (meaning jewelry concepts) into the mix, but they haven’t yet. For the time being, the big difference seems to be De Beers’ marketing muscle. There is no other diamond company that will spend on advertising what De Beers plans to spend on the Forevermark. So this could be an interesting test case in the power of branding and marketing. Stay tuned …
UPDATE: One note about De Beers’ conflict-free guarantee: De Beers can presumably back up that promise a little more than most, especially if the Forevermark diamonds are only from its mines. The question is whether consumers will demand that level of detail.